Guideline Value for Saraswathy Nagar

Saraswathy Nagar guideline value

The current guideline value of Saraswathy Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Mevaloorkuppam village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Saraswathy Nagar has changed

The guideline value for Saraswathy Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 100 per sq.ft, which increased to Rs 300 per sq.ft in the 2012 revision. However, it then dropped to Rs 201 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 300 per sq.ft, and the current 2024 revision remains unchanged at Rs 300 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 200%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, with no change from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam village, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Saraswathy Nagar is below this median.

• Santhi Nagar: Rs 300 per sq.ft (2024)
• Selliyamman Koil Street: Rs 200 per sq.ft (2024)
• Sree Sayee Nagar: Rs 900 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 300 per sq.ft (2024)
• Rainbow Nagar: Rs 200 per sq.ft (2024)
• Raghavendra Nagar: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Saraswathy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saraswathy Nagar?

The Sub Registrar Office that covers Saraswathy Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mevaloorkuppam

The guideline value is an essential factor when registering property transactions in Mevaloorkuppam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property, the guideline value helps to establish the minimum value for taxation purposes. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Saraswathy Nagar?

The current guideline value of Saraswathy Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then to Rs 201 per sq.ft in 2017, and back to Rs 300 per sq.ft in both 2023 and 2024.

What is the land classification of Saraswathy Nagar?

Saraswathy Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for Saraswathy Nagar located?

The Sub Registrar Office for Saraswathy Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Saraswathy Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 21,000.